REG - Trinity Exploration - Jacobin Update

Trinity Exploration & ProductionAnnouncement

29/11/2023 07:00

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RNS Number : 9791U  Trinity Exploration & Production  29 November 2023

 

29 November 2023

Trinity Exploration & Production plc

("Trinity" or "the Group" or "the Company")

Jacobin Update

Trinity Exploration & Production plc (AIM: TRIN), the independent E&P
company focused on Trinidad and Tobago, is pleased to provide an update on
operations at its Jacobin oil discovery.

Trinity safely perforated the two Lower Cruse 1 zones on 28 November 2023,
ahead of the anticipated schedule of mid-December.  Testing of these two
comingled zones will now commence and the well's performance will be closely
monitored.

The Company will provide flow rate data once stabilised information is
available, alongside details of ongoing operations.

 

 

Enquiries:

 Trinity Exploration & Production plc            Via Vigo Consulting

 Jeremy Bridglalsingh, Chief Executive Officer

 Julian Kennedy, Chief Financial Officer

 Nick Clayton, Non- Executive Chairman

 SPARK Advisory Partners Limited                 +44 (0)20 3368 3550

 (Nominated Adviser and Financial Adviser)

 Mark Brady

 James Keeshan

 Cavendish Capital Markets Limited (Broker)      +44 (0)20 7397 8900

 Leif Powis                                      +44 (0)131 220 6939

 Derrick Lee

 Neil McDonald

 Vigo Consulting Limited                         trinity@vigoconsulting.com

 Finlay Thomson                                  +44 (0)20 7390 0230

 Patrick d'Ancona

 

 

About Trinity (www.trinityexploration.com (http://www.trinityexploration.com)
)

Trinity is an independent oil production company focused solely on Trinidad
and Tobago.  Trinity operates producing and development assets both onshore
and offshore, in the shallow water West and East Coasts of Trinidad.
Trinity's portfolio includes current production, significant near-term
production growth opportunities from low-risk developments and multiple
exploration prospects with the potential to deliver meaningful
reserves/resources growth.  The Company operates all of its ten licences and,
across all of the Group's assets, management's estimate of the Group's 2P
reserves as at the end of 2022 was 17.96 mmbbls.  Group 2C contingent
resources are estimated to be 48.88 mmbbls.  The Group's overall 2P plus 2C
volumes are therefore 66.84 mmbbls.

Trinity is quoted on AIM, a market operated and regulated by the London Stock
Exchange Plc, under the ticker TRIN.

Qualified Person's Statement

The technical information contained in the announcement has been reviewed and
approved by Mark Kingsley, Trinity's Chief Operating Officer.  Mark Kingsley
(BSc (Hons) Chemical Engineering, Birmingham University) has over 35 years of
experience in international oil and gas exploration, development and
production and is a Chartered Engineer.

Disclaimer

This document contains certain forward-looking statements that are subject to
the usual risk factors and uncertainties associated with the oil exploration
and production business.  Whilst the Group believes the expectation reflected
herein to be reasonable in light of the information available to it at this
time, the actual outcome may be materially different owing to macroeconomic
factors either beyond the Group's control or otherwise within the Group's
control.

 

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